Business

Business Policies

It can be a complex task ensuring you have minimised all the risks involved in owning and operating a business.
Business insurance specialists, Caro & Co has developed a full risk mitigation strategy in consultation with insurance companies, trust lawyers and accountants.
It’s designed to take the big financial risks from your business so you can focus on growing your business assets.

 
Shareholder Protection
You’re a business owner. Your company is ticking along until suddenly, you or a shareholder dies or becomes disabled and cannot return to work. Where would you find the money to purchase his or her shares? Write a cheque? Mortgage your home? Take out a company loan? How does the surviving family get the value of the shares out of the business? How would the business fund this? Shareholder Insurance guarantees your financial outcomes by mitigating this risk.
Caro & Co will work closely with you to gain complete understanding of your business, and to preserve financial wealth for you and/or beneficiaries and future shareholders. The shareholder insurance Caro & Co devises for you will guarantee you complete peace of mind.

 
Loss of Revenue Protection
Revenue protection ensures you have the financial wherewithal to carry on operating your business if a shareholder or key staff member dies or suffers an illness or becomes permanently disabled and are unable to return to work. This can result in a shortfall in sales, loss of know-how, expertise and strategic direction.
Business revenue insurance provides you with replacement revenue to meet the business’ normal operating expenses and the cost of sourcing a suitable replacement or locum. This guarantees your business maintains its financial position while it recovers from the loss.
Caro & Co will structure the right Loss of Revenue Protection policy for your business.

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Key Person Protection
Many businesses rely heavily on a handful of key staff members, including the owner. They’re critical to achieving company objectives, so the unexpected loss of a key member of staff can usher in disaster for the business. Key Person Protection minimises the financial effect and gives your business the best chance of staying solvent following the loss of a key person.
Caro & Co will work with you to help to determine what effect this could have on you and your business, and suggest ways to minimise the risk. A Key Person Protection Plan will provide the business with cash to meet increases in expenses; replace ensuing loss of revenue; reduce business debt to decrease outgoings; cover the costs of finding and training a replacement; replace the loss of profit.

 
Debt Protection
Acquiring debt to grow or fund a business is a given, and in many cases represents optimum use of capital. But you are locked in to fees, interest and large contracts; personal guarantees must be provided by the business owners to secure the debt. Lenders can chase you, your family and your other business partners should something happen to you or another business partner.
Business Liability Insurance provides you with sufficient cash to service or repay liabilities upon specified events – death or serious disability, for instance – to minimise the likelihood of the guarantor’s personal assets being called upon to meet the obligations.
Caro & Co’s team of specialists are specifically trained to help simplify and structure a debt protection plan exclusively for you and your business.

 
ACC Levies
Accidents happen. That’s a fact!
As a self-employed person you may have Cover Plus Xtra insurance or your business has an ACC health check to lower your levies. But come claim time with ACC, the net profit your business is showing may not be sufficient to cover you and your business.
Caro & Co’s specialists will work with you, insuring your revenue in advance, guaranteeing the preservation of your business,

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Professional Indemnity Protection
Professional indemnity insurance covers you and your business if a client is dissatisfied with your service, incurs a loss or suffers damage from an act, omission or a breach of professional standards.
The potential for claims being made against you is very real. And it costs time and money to defend yourself, even if they are unfounded, and the demand for compensation can be crippling for you and your business. Even if you are not found to be liable, the legal costs of defending yourself could seriously affect your business.
Professional indemnity insurance will protect you and your employees if these circumstances arise, including legal costs.

 
Public Liability Insurance
In an increasingly litigious world the risk of being held responsible for a loss another person or entity suffers is a real threat to business. A Legal Liability Policy gives protection against allegations or claims made against you or your business. It includes cover for legal defence costs as well as settlement amounts.
Caro & Co will work with you, help review the areas of exposures you and your business are open to, which risks you wish to shift to insurers. They’ll create a liability policy specific to you and your business, with finer details of the policy’s wording that will stand up and protect you in the event of a threatened claim.